Alibaba Group [BABA:US], a Chinese e-commerce giant and one of the largest tech companies in the world, pledged to achieve carbon neutrality in its operations and reduce emissions across its supply chains and transportation networks by 2030. The commitment comes from its 2021 Carbon Neutrality...
Korean conglomerate SK Group [034730:KS] will announce its vision to reduce 1% of global carbon emissions at the Consumer Electronics Show 2022 (CES 2022), as reported by the Korea Herald on December 29. According to Andrew Kwon, Vice President and Head of Strategy at SK...
China plans to include financial institutions, non-ferrous metals, and building materials in its national emissions trading scheme (ETS), as reported by Reuters on December 29. Specifically, the non-ferrous metal and building materials sectors are expected to join the ETS market as early as 2022. Other...
The Indian government has advised automakers to produce flex-fuel vehicles (FFV) aligned with BS-VI emission norms within six months, as reported by Economic Times on December 27. FFV, or dual-fuel vehicle, is equipped with an internal combustion engine that consumes more than one type of...
Indian two-wheeler and tricycle manufacturer Bajaj Auto [BJAUT:IN] will invest INR3bn (USD40m) to develop an electric vehicle (EV) facility in the village of Akurdi that will produce 500,000 vehicles per year, as reported by Economic Times on December 29. Bajaj Auto's suppliers will contribute an...
China will remove restrictions on overseas investment in domestic passenger car manufacturing from January 1, 2022, as reported by CNBC on December 27. The announcement came as a document regularly released by China’s NDRC and the Ministry of Commerce (MOFCOM) to list sectors restricted from...
China and Cuba have signed a cooperation agreement to push forward construction projects in Cuba under China’s Belt and Road Initiative (BRI), as reported by Global Times on December 26. The collaboration came after Cuba joined the Belt and Road Energy Partnership (BREP), an alliance...
CLP Power [0002:HK], one of Hong Kong’s two major energy producers, will spend HKD32m (USD4.1m) in 2022 to help local enterprises improve power efficiency with facility upgrade and training, as reported by SCMP on December 28. In addition, CLP will also provide HKD100m (USD12.82m) of...
The Bank of Japan (BOJ) [8301:JP] has provided USD18bn in loans to financial institutions in the first auction for its new climate scheme to combat climate change, as reported by Reuters on December 23. BOJ will distribute zero-interest loans amounting to USD17.94bn on December 24,...
China’s NDRC and Japan’s Ministry of Economy, Trade and Industry (METI) will collaborate on producing synthetic methane, a renewable alternative to natural gas, from recycled hydrogen and carbon dioxide (CO2), as reported by Nikkei Asia on December 26. The facility will be built in China’s...
Korean Electric Power Corp (KEPCO, [015760:KS]) will lead a consortium to construct and operate a subsea power transmission system worth USD3.6bn with Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA), as reported by Korean Economic Daily on December 23....
Japan’s largest power generation enterprise JERA has signed an agreement with a subsidiary of Australian energy developer Santos [STO:AU], to raise its share in the latter’s Barossa gas field project from 6.1% to 12.5%, as reported by NT Independent on December 19. The two parties...
National Hydroelectric Power Corporation (NHPC), the largest state-owned hydropower enterprise in India, announced plans to construct hydro and solar projects of over 27,000 megawatts (MW) in nine states and neighboring country Nepal, as reported by Economic Times on December 19. Citing NHPC chairman and managing...
POSCO [5490:KS], the world’s fifth-largest steelmaker, plans to build two mini mills featuring low carbon emissions and high utilization rate by 2027, as reported by Korean Economic Daily on December 20. The two mini mills will use electric arc furnaces (EAF) to produce high-quality steel...
India’s renewable energy generator ReNew Power [RNW:US] announced the commissioning of a 300-megawatt (MW) solar project with Solar Energy Corporation of India (SECI), as reported by the Economic Times on December 21. The deal is part of ReNew Power's ambition to attain 8.2 gigawatts (GW)...
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